Despite what pseudonymous traders hiding behind avatars and usernames on Twitter might say, trading isn’t easy. Trading requires knowledge of markets, the regular practice of technical analysis, close monitoring of sentiment, strict capital management, natural talent, and the patience of a stoic Saint.
Those with the right combination of skills, experience, and strategy can earn themselves a fortune leveraging trading as an income stream, and amass a large, loyal following. Covesting, a new copy trading solution found on PrimeXBT, takes those same experienced traders and matches them with followers so that both sides can profit together.
Follow A Leading Strategy
When starting out, trading can be overwhelming. At first glance, price charts appear to be a flurry of lines with no rhyme or reason. Even when new traders believe they have learned all there is to know about trading, when they finally put capital on the line is when school really goes into session. Most traders learn the hard way, through mistakes, losses, and emotions running wild.
By using Covesting, however, new traders can earn passive income by following top strategies created by skilled traders across the greater global community. Rather than having to manage positions on their own stressfully, followers simply select a strategy to follow and allocate the amount of capital they are comfortable putting on the line.
Like trading yourself, even experienced traders can suffer a losing streak, and losses can pile up. It is still the follower’s responsibility to select the right strategy and manage any drawdown associated with the strategy. Covesting is adamant about its risk warnings and recommends all users read through the provided risk disclaimer.
Become A Strategy Manager
The other side of this situation is the strategy manager. Unlike other copy trading platforms that require a waiting period, and specific parameters be met before allowing strategy managers to earn income from those copying their strategies, Covesting allows any trader to start a career for themselves immediately and in a few easy clicks.
Strategy managers will earn a portion of success fees from the winning trades generated using follower’s equity. But only if they are able to attract followers.
Trade Your Way To Fame
Although anyone can become a strategy manager, as with any competitive platform and ranking system, its survival of the fittest. The only way to attract followers to your strategy is to show a successful track record of trading.
In fact, trading itself is the next way traders can earn money from the Covesting platform. Any equity the strategy managers themselves have on the line, will also make them income. And the more successful a trading record any strategy manager has to show for their efforts, the more likely they will entice followers to inject equity.
Promote The Hottest New Tool In Trading
It is easy to see why the market is buzzing about Covesting. New traders can earn a profit faster than if they started learning the ropes themselves, and experienced traders now have another way to earn income from their routine trading habits.
Traders also now have a way to prove their worth through the transparency the Covesting rating system provides. Many are already sharing screenshots of their Covesting rating in place of the regular PnL screenshots posted throughout Twitter or other trading communities.
For those who don’t already know about Covesting, it can be profitable introducing peers and social circles to the new platform. The Covesting copy trading module lives on PrimeXBT currently. This is another enormous benefit to traders because PrimeXBT offers one of the most lucrative referral programs in the financial industry.
The referral program goes four-levels deep, so any new users your referrals bring in will also earn you trading commissions. Promoting Covesting is an easy sell to skill traders who perhaps already have their interest or curiosity piqued, and it could potentially help to grow an extensive network of commission-generating traders.
Covesting Now Available On PrimeXBT
The new Covesting copy trading module is now live on PrimeXBT after a successful beta phase saw traders generate as much as 1800% ROI. A milestone of $1 million in follower equity was also achieved during the short-lived beta rollout.
After some tweaks and improvements, Covesting was released to all earlier in August on the award-winning Bitcoin margin trading platform. PrimeXBT offers forex, stock indices, commodities, and crypto, providing traders with the most diversity and opportunities under one roof.
All of these assets, along with PrimeXBT’s long and short positions, technical analysis software from TradingView, and much more, can be utilized alongside Covesting for profits at every turn.
Whether you are a trader yourself, thinking of starting, or are part of a trading community, there’s a way to make money from Covesting.